Introduction

Bifrost has successfully minted 112,303 vsKSM and vsBond in the Kusama slot auction via SALP, for a total of 45,190 holding addresses. Following the completion of Phase 0 after August 13, Bifrost completed the on-chain upgrade of Runtime v0.8.2 on August 18. As of today vsKSM and vsBond have been distributed on-chain and the vsKSM and vsBond balances are available in the Bifrost Block Browser or Bifrost Dapp.

Runtime v0.8.2 Update Log

This Runtime version is a forkless on-chain upgrade via Sudo, it includes:

Asset Module

The Asset module adds KSM, vsKSM, vsBOND and LP Token; and includes the logic to interchange Bifrost & Zenlink’s AssetID format. This upgrade does not include transfer function.

vsKSM & vsBond

Complete vsKSM & vsBOND distribution for the 45,190 addresses that have participated in the Bifrost vsKSM Mint Drop. vsKSM & vsBond transfers will be enabled in Runtime v0.8.3.

Next Step

The Council & Treasury modules will be enabled in the next Runtime release of Bifrost (v0.8.3) and the Flexible fee module will be live at the same time. KSM will be used as the on-chain processing fee until BNC is enabled for Transfer (when BNC is present in the address, BNC is preferred) and vsKSM & vsBond Transfer will be enabled at the same time.

Development

Bifrost Node

• Farming module, single test / integration / documentation / flow chart

• vsToken/vsBond batch script

• salp revamp with multisig account to confirm

• Enable xcm transfer in bifrost runtime

• Test ump transfer & flag the xcm api interface for frontend

• salp revamp about seperating xcm fee from contribution extrinsics

• Enable governance & council in bifrost runtime

• Enable treasury & bounties in bifrost runtime

• Some discussion with team about the implementation of salp multisig confirmation service

• Remove the previous fee hack in relaychain and test the whole salp&xcm flow

• Discussion about change the threshold value of umpServiceWeight & new proposal of public referenda

• salp revamp with proxy based solution

• Complete the salp-confirm-service docker-compose setup, and the code for the two subql

• Deploy bifrost-service

• Test SALP operations on relay and parachains event

• Develop salp-confirm-service

• Refine the configuration of orml weights

• Support xtokens assets

• Upgrade flexible-Fee pallet

• add vesting set function & benchmark

• xtokens minimum amount

• Cross-Chain Integration and Tuning with Karura Assets

• Bifrost v0.8.2 runtime generation & testing & release & upgrade

Bifrost Dapp & Dashboard

• Parachain to relay chain assets cross-chaining each other

• Universal clearing pop-up window supports relay chain interchange

• salp auction API data docking

• salp farming module front-end API function development

• Bifrost.js with runtime upgrade

• Polkwallet multi-currency support

• Add balance prompt

• Fix the bug that the input amount is kept

• KSM transfer fee issue

• Minimum transfer limit for cross-chain asset collation and storage

• No response to transfer without commission deduction

• There is a new page flip component design, which can be updated to a new page flip component when it is needed

• Pop-up progress bar display for cross-chain transfers in and out

• When there is no asset transfer in the relay chain, the input box will be prompted

• Page flip component optimization

• Update subscan external link format

• Progress bar update for cross-chain assets

• Optimize flexible fee

• Add dropdown address when you need to enter address

• Mainnet style, hidden account after polkadot.js unified logo

• Load performance optimization of Account component

Ecosystem

• On August 16, Bifrost participated in CoinAsk’s first online forum AMA Parachain Bidding Liquidity Protocol SALP, introducing the usage scenarios of SALP and the future vsKSM mining mechanism in a Q&A session, details. https://www.coinask.io/post/324

• On August 19, Bifrost Product Manager Tyrone participated in an online AMA hosted by AToken: How Parachain Auctions Unleash staked Liquidity. You can hedge the opportunity cost by exchanging derivatives and mining without waiting for the 48-week lock-in period.

• On August 20, Bifrost launched the third phase of its ambassador recruitment program, which will begin with the recruitment of ambassadors overseas. Anyone interested in the Stakign derivatives track is very welcome to actively apply. Details: https://bifrost-finance.medium.com/2dd6b63611fb

What is Bifrost?

Bifrost is the Polkadot Ecological DeFi basic protocol. It is committed to becoming an infrastructure for pledged assets to provide liquidity. Bifrost launched derivatives vToken for Staking and Polkadot Parachain Slot (Crowdloan). It has obtained $2.15M in fund-raising from NGC, SNZ, DFG, CMS and other institutions and Web3 Foundation Grant. It is also a member of Substrate Builder’s Program and Web3.0 Bootcamp.

vToken can optimize transactions in multiple scenarios such as DeFi, DApp, DEX, CEX, and realize the transfer channel of pledge rights such as staking and crowdloan through vToken, realize the risk hedging of pledge assets, and expand scenarios such as vToken as collateral for lending, its staking reward part of the interest can be offset to achieve low-interest loans.

Learn more about Bifrost

Website | GitHub | Telegram | Medium | Twitter | Discord | SubSocial